Guide to the latest IT Contractor Rates

New data suggests that the outlook for IT contractors within the financial services industry could remain uncertain during early 2011.

Information released by Powerchex showed that confirmed job offers within the financial services industry as a whole fell by 21% in December compared the previous month.

Taking 2010 as a whole, there were around one fifth less openings for contractors within the industry compared to 2009. Interestingly, during the same period, the number of permanent roles rose significantly.

Alexandra Kelly, MD at the City pre-employment screening firm gave us her view on the outlook for contractors over the coming year:

"The IT contractor market had a turbulent year. In 2010, there were 21% fewer opportunities for IT contractors within financial services than in 2009. Over the same period, opportunities for permanent employees rose by 37%.

"I anticipate that the first few months of 2011 will be difficult for IT contractors, with increased competition for positions as public sector projects get cancelled. My advice would be to consider going permanent, if you have the option; you can always pursue other options when the market picks up again.”